“Singapore Launches New Registry to Monitor and Report Business Carbon Emissions”

In Singapore, the Singapore Business Federation (SBF) has taken a significant step towards promoting environmental sustainability by introducing a new registry. Launched on Monday, April 15th, this registry aims to assist local businesses in efficiently and accurately tracking and reporting their carbon emissions. By providing a streamlined platform, the SBF seeks to simplify the process for businesses, enabling them to better monitor their environmental impact and take proactive measures to reduce their carbon footprint. This initiative underscores Singapore’s commitment to addressing climate change and fostering responsible business practices within the corporate sector.

At the opening of Ecosperity Week 2024, Singapore’s Minister for Sustainability and the Environment, Grace Fu, unveiled the Emission Factors Registry, a pivotal tool designed to support businesses in meeting their climate reporting requirements. This registry is poised to revolutionize the way local businesses track and report their carbon emissions, providing them with essential data to enhance their environmental accountability. By simplifying the process and offering standardized emission factors, the registry aims to streamline reporting procedures, making it easier for businesses to assess and manage their carbon footprint. Minister Grace Fu’s announcement underscores Singapore’s commitment to advancing sustainability initiatives and fostering a culture of environmental responsibility within the business community.

The annual sustainability conference by Temasek, which runs until Wednesday, brings together private and public sector leaders, academics and other parties to further the agenda on sustainable development.

The Emission Factors Registry is a joint effort between the SBF, Agency for Science, Technology and Research (A*STAR), PricewaterhouseCoopers (PwC) and Singtel, and supported by the Ministry of Trade and Industry and the Ministry of Sustainability and the Environment.

The idea of the registry emerged from a Forward SG conversation in 2022, where companies highlighted the difficulties presented in reporting scope 3 emissions,” Ms Fu, who is also Minister-in-charge of Trade Relations, noted in her keynote address.Scope 3 emissions typically refer to indirect emissions from entities up and down a company’s value chain, such as business travel, commuting, waste disposal and water consumption. In a separate press release, the SBF said that the registry supports existing reporting tools and solutions that help enterprises automate their sustainability reporting process.

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